MCX COMMODITY WEEKLY REPORT

EPIC Research Report

This Report contains all the study and strategy required by trader to trade on MCX commodities. Refer to the chart attracted in the Report to take proper Trading Decision.
Research Analyst: Prateek Gupta Date: 12-August-2013

MCX Daily Newsletter (12-August-2013)

WEEKLY COMMODITY WRAP..!!!!!

Base metals
LME base metals have stabilized, underpinned by reports of better trade numbers from China and improving economic activity in Europe. Chinas exports grew 5.1% during July, recovering from June's 3.1% fall. Imports also showed a 10.9% jump. In Europe, Recessionary conditions seem to be mitigating, whereby Italys Q2 GDP contracted by meager 0.2% as compared with a decline of 0.6% during the prior period. Meanwhile, Germanys factory orders during June grew at the highest rate since the past eight Months. The countrys Germanys industrial production during June also rose 2.4% from May. On production front, Aluminum Producers have been facing margins pressure for a quite long Time on account of low metal prices. The global markets have been inundated with expanding surplus and rampant cutbacks during the next few months will not be a surprise. Base metals are expected to trade firm during next week, as macroeconomic developments from Europe and China has exhibited some positive signals. Reports of Chinese government planning to rationalize production should also provide an element of support. The regime has ordered various metal smelters to close outdated capacity by the end of September and dismantle them by the end of this year.

Precious metals
Precious metals reversed course, with gold prices once again receding below the psychological level of US$1,300/oz. Silver prices have also failed to sustain around US$20/oz. Positive macroeconomic numbers from US and Europe has prompted selling in the precious metals counter. In addition, escalating expectations of US Federal Reserve tapering the bond buying programme has weighed on the pack. In this respect, Fed Bank of Dallas President Richard Fisher stated that investors should not bank on the Fed to persist with its US$85bn monthly bond purchases for an indefinite period. In the latest, Charles Evans, president of the Chicago Fed has conveyed that US economic backdrop is improving, which should allow the Federal Reserve to scale down the pace of its asset purchases before this year end. Gold prices should remain confined within the price range of US$1,260-1,340/oz. Range bound trade will remain intact During the course of next few weeks until the market focus Shifts back to Federal Reserve meeting in September.

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MCX Daily Newsletter (12-August-2013)

WEEKLY ECONOMIC CALENDAR

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MCX Daily Newsletter (12-August-2013)

MCX BULLIONS DAILY TECHNICAL LEVELS

GOLD MCX HOURLY CANDLESTICK CHART

TRADING STRATEGY: GOLD MCX is trading sideways and intermediate trend is up. Trading between range 28800-27200. USDINR is also trading near to all time highs so keep a close watch on currency movements before taking any long or short Position. Immedaite Resistance @28040 and Support @27200 1. Sell GOLD MCX Below 27150 TGT 27050/26950 SL 27250 2. Buy GOLD MCX Above 28100 TGT 28200/28300 SL 28000

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MCX Daily Newsletter (12-August-2013)

MCX BULLIONS DAILY TECHNICAL LEVELS

SILVER MCX HOURLY CANDLESTICK CHART

TRADING STRATEGY: SILVER MCX is trading near to trend line resistance levels and any breakout would be a good buying opportunity. Keep A close watch on USDINR movements while initiating any fresh position. Immediate Resistance @43050 and Support @42300 1. Sell SILVER MCX BeLow 41900 TGT 41500/41000 SL 42300 2. Buy SILVER MCX above 43200 TGT 43500/44000 SL 42700

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MCX Daily Newsletter (12-August-2013)

MCX BASE METALS DAILY TECHNICAL LEVELS

COPPER MCX HOURLY CANDLESTICK CHART

TRADING STRATEGY: COPPER MCX is seen a bull run in international markets and is trading in uptrend. Can head towards higher levels Next week. Any correction would be buying opportunity. Immediate Resistance @449.50 and Support @436 1. Sell COPPER MCX Below 431.50 TGT 427.50/422.50 SL 435.50 2. Buy COPPER MCX Above 445 TGT 449/454 SL 440

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MCX Daily Newsletter (12-August-2013)

MCX ENERGY DAILY TECHNICAL LEVELS

CRUDEOIL MCX HOURLY CANDLESTICK CHART

TRADING STRATEGY: CRUDEOIL MCX has faced some correction last week trading near to support levels and if sustians above support levels it may be best buying opportunity this week. Immediate Resistance @6415 And Support @6190 1. Buy CRUDEOIL MCX above 6450 TGT 6600/6650 SL 6500 2. Sell CRUDEOIL MCX below 6170 TGT 6100/6000 SL 6270

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MCX Daily Newsletter (12-August-2013)

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